What is the most expensive car you can afford

Assignment Help Finance Basics

Reference no: EM133615895

Problem: You want to buy a new car, but you can make an initial payment of only $3,100 and can afford monthly payments at most $565 for 60 months. You recently checked your credit score and are between great and good credit. The interest for great credit is 6.44%, and the Good credit interest rate is 8.99%. What is the most expensive car you can afford? If you were to prepay the car loan, how does that affect the amount of interest you pay over time?

Reference no: EM133615895

Questions Cloud

Practice soccer in hopes of earning a scholarship : he should not take the extra hours. He should give up his job altogether to practice soccer in hopes of earning a scholarship

Who is likely to be found guilty of consumer fraud : president of the company did not participate in the scheme but was aware of and tolerated it. Who is likely to be found guilty of consumer fraud

What are the chicken with the bone breasts purchasing : What are the chicken with the bone breasts purchasing specs under the purveyor list?

Role of money medium of exchange : Select each role only once. Role of Money Medium of Exchange Unit of Account Store of Value Larry accumulates money in his savings account for future purchases

What is the most expensive car you can afford : What is the most expensive car you can afford? If you were to prepay the car loan, how does that affect the amount of interest you pay over time?

What expected future spot for usd-chf two years from now : Due to the integrated nature of their capital markets. The USD/CHF rate is currently 0.9524. What is your expected future spot for USD/CHF two years from now?

What are three potential benefits : What are three potential benefits and three potential negative consequences for the host country (Canada) of this acquisition?

What else may be a concern for the us companies : the argument has been that Huawei is a security threat. However, especially considering the Android agreement, what else may be a concern for the US companies

What kind of intervention method is represented : What kind of intervention method is represented by the fact that in many states psychiatric hospitals are operated by state governments

User Account

All Pages